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SECURITIES
AND EXCHANGE COMMISSION
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Washington,
D.C. 20549
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FORM
8-K
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Current
Report
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Pursuant
to Section 13 or 15(d) of the
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Securities
Exchange Act of 1934
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Date
of Report (Date of earliest event reported): January 13,
2010
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Commission
File
Number
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Registrant,
State of Incorporation,
Address
and Telephone Number
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I.R.S.
Employer
Identification
Number
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001-32206
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GREAT
PLAINS ENERGY INCORPORATED
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43-1916803
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(A
Missouri Corporation)
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1200
Main Street
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Kansas
City, Missouri 64105
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(816)
556-2200
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NOT
APPLICABLE
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(Former
name or former address,
if
changed since last report)
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000-51873
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KANSAS
CITY POWER & LIGHT COMPANY
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44-0308720
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(A
Missouri Corporation)
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1200
Main Street
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Kansas
City, Missouri 64105
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(816)
556-2200
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NOT
APPLICABLE
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(Former
name or former address,
if
changed since last report)
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Check the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions:
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Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
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[ ]
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Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
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[ ]
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Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
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Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
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This
combined Current Report on Form 8-K is being filed by Great Plains Energy
Incorporated (Great Plains Energy) and Kansas City Power & Light Company
(KCP&L). KCP&L is a wholly owned subsidiary of Great Plains
Energy and represents a significant portion of its assets, liabilities,
revenues, expenses and operations. Thus, all information contained in
this report relates to, and is filed by, Great Plains
Energy. Information that is specifically identified in this report as
relating solely to Great Plains Energy, such as its financial statements and all
information relating to Great Plains Energy’s other operations, businesses and
subsidiaries, including KCP&L Greater Missouri Operations Company (GMO),
does not relate to, and is not filed by, KCP&L. KCP&L makes
no representation as to that information. Neither Great Plains Energy
nor GMO has any obligation in respect of KCP&L’s debt securities and holders
of such securities should not consider Great Plains Energy’s or GMO’s financial
resources or results of operations in making a decision with respect to
KCP&L’s debt securities. Similarly, KCP&L has no obligation
in respect of securities of Great Plains Energy or GMO.
KCP&L
has a 55% ownership interest, and GMO has an 18% ownership interest, in Iatan
No. 2, an estimated 850MW coal-fired electric generating unit currently under
construction. Great Plains Energy and KCP&L have previously
announced a late summer 2010 anticipated in-service date for Iatan No.
2. Due to construction delays and unusually cold weather, Great
Plains Energy and KCP&L currently anticipate that the in-service date of
Iatan No. 2 will shift approximately two months into the fall of
2010.
The shift
in the expected in-service date will likely cause approximately the same
movement in the effective dates of rates to be set in KCP&L’s pending Kansas
rate case and KCP&L’s and GMO’s anticipated Missouri rate cases, which had
been originally projected to be October 17, 2010 and early first quarter 2011,
respectively.
Additionally,
as the Iatan No. 2 project moves into the startup phase, KCP&L has commenced
a cost and schedule reforecast process for Iatan No. 2. The results
will be disclosed when the process is completed, which is currently projected to
be in the second half of the first quarter of 2010. While Great
Plains Energy and KCP&L presently believe there will be no material increase
in the estimated construction cost range of Iatan No. 2 or material impact on
2010 earnings, there is no assurance regarding the impact of the currently
expected delay, the results of the cost and schedule reforecast process or the
effects of the actual cost and in-service date of Iatan No. 2 on Great Plains
Energy’s and KCP&L’s results of operations, financial position and cash
flows. Great Plains Energy expects to issue 2010 earnings guidance in
late February 2010.
Forward-Looking
Statements:
Statements
made in this report that are not based on historical facts are forward-looking,
may involve risks and uncertainties, and are intended to be as of the date when
made. Forward-looking statements include, but are not limited to, the outcome of
regulatory proceedings, cost estimates of the Comprehensive Energy Plan and
other matters affecting future operations. In connection with the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995, the
registrants are providing a number of important factors that could cause actual
results to differ materially from the provided forward-looking information.
These important factors include: future economic conditions in regional,
national and international markets and their effects on sales, prices and costs,
including, but not limited to, possible further deterioration in economic
conditions and the timing and extent of any economic recovery; prices and
availability of electricity in regional and national wholesale markets; market
perception of the energy industry, Great Plains Energy, KCP&L and GMO;
changes in business strategy, operations or development plans; effects of
current or proposed state and federal legislative and regulatory actions or
developments, including, but not limited to, deregulation, re-regulation
and
restructuring
of the electric utility industry; decisions of regulators regarding rates
KCP&L and GMO can charge for electricity; adverse changes in applicable
laws, regulations, rules, principles or practices governing tax, accounting and
environmental matters including, but not limited to, air and water quality;
financial market conditions and performance including, but not limited to,
changes in interest rates and credit spreads and in availability and cost of
capital and the effects on nuclear decommissioning trust and pension plan assets
and costs; impairments of long-lived assets or goodwill; credit ratings;
inflation rates; effectiveness of risk management policies and procedures and
the ability of counterparties to satisfy their contractual commitments; impact
of terrorist acts; increased competition including, but not limited to, retail
choice in the electric utility industry and the entry of new competitors;
ability to carry out marketing and sales plans; weather conditions including,
but not limited to, weather-related damage and their effects on sales, prices
and costs; cost, availability, quality and deliverability of fuel; ability to
achieve generation planning goals and the occurrence and duration of planned and
unplanned generation outages; delays in the anticipated in-service dates and
cost increases of additional generating capacity and environmental projects;
nuclear operations; workforce risks, including, but not limited to, retirement
compensation and benefits costs; the ability to successfully integrate KCP&L
and GMO operations and the timing and amount of resulting synergy savings; and
other risks and uncertainties.
This list
of factors is not all-inclusive because it is not possible to predict all
factors. Other risk factors are detailed from time to time in Great Plains
Energy’s and KCP&L’s most recent quarterly report on Form 10-Q or annual
report on Form 10-K filed with the Securities and Exchange
Commission. Any forward-looking statement speaks only as of the date
on which such statement is made. Great Plains Energy and KCP&L
undertake no obligation to publicly update or revise any forward-looking
statement, whether as a result of new information, future events or
otherwise.
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has
duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
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GREAT
PLAINS ENERGY INCORPORATED
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/s/
Michael W. Cline
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Michael
W. Cline
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Vice
President-Investor Relations and
Treasurer
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KANSAS
CITY POWER & LIGHT COMPANY
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/s/
Michael W. Cline
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Michael
W. Cline
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Vice
President-Investor Relations and
Treasurer
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Date: January
13, 2010.
